Analysts Think Ethereum Will Surge as Bitcoin Holds $13,000 Support
- Ethereum has undergone a strong 10-15% rally over the past seven days that has brought it as high as $420.
- The coin is expected to move towards $433 to “catch up” to Bitcoin.
Ethereum Expected to Surge As Bitcoin Holds Key Supports
Santiment, a blockchain analytics firm, shared the chart below just recently with the following comment:
With BTC holding above ,000, ETH is expected to move towards 3 to “catch up” to Bitcoin.
Bitcoin rallying higher would likely be enough to drive ETH higher in the days ahead, though. Chart of ETH’s price action over the past few months with an overlay of miner balances. Chart from Santiment
Featured Image from Shutterstock
Price tags: ethusd, ethbtc, ethusdt, btcusd, btcusdt, xbtusd
Charts from TradingView.com
Analysts Think Ethereum Will Surge as Bitcoin Holds ,000 Support
Ethereum Has Strong On-Chain Trends
The strength in the price of ETH comes as Bitcoin has held the ,000 support, which many feared would mark the top of the rally. Bitcoin currently trades for ,150.
Ethereum has undergone a strong 10-15% rally over the past seven days that has brought it as high as 0. The coin currently trades for 2 as it positions to move higher.
One analyst shared the chart below, showing that ETH will likely move to 3 before the weekend finishes, then continue towards the yearly highs at 0 by the end of the month.
“There is good news and bad news for #Ethereum’s quest to again surpass the 0 price barrier. The good news is that miners aren’t selling, and there is a big increase in new $ETH addresses being created, and pre-existing addresses have shown an increase in activity. The bad news is that social sentiment is bordering on euphoric territory, and daily active deposits have jumped in a big way.”
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